24/7 Cryptocurrency News

XRP Lawsuit: Why Ripple Labs Need To Take a Drastic Move Now

In the ongoing XRP Lawsuit against US SEC, Ripple Labs might have defaulted in filing a Notice of Appearance for its counsel
Published by
XRP Lawsuit: Why Ripple Labs Need To Take a Drastic Move Now

Highlights

  • Ripple Labs has defaulted in filing its counsel Acknowledgment and Notice of Appearance
  • The 2nd Circuit grants Ripple 14 days to make this filing
  • Ripple Labs not giving up in fight against US SEC

The XRP lawsuit is now elongated, with the appeal and cross-appeal from the US SEC and Ripple Labs, respectively. Earlier today, the US Appeals Court for the Second Circuit notified Ripple about a possible procedural default. This filing served as a warning to the blockchain payments firm not to exclude its attorneys in future Oral Arguments.

Advertisement

XRP Lawsuit: Defaults and Second Chances

The XRP lawsuit is fast-paced and over the past month, there has been two unique instances of filing defaults. First the community thought the US SEC defaulted in filing Form C that would cement its appeal against Judge Analisa Torres’ Ripple lawsuit judgment.

The markets regulator eventually submitted the Form C statement last Thursday. Now, the table has turned with Ripple now in the spotlight over a default. Per the Second Circuit’s notice, Ripple is yet to file its Counsel Acknowledgment and Notice of Appearance. This document, per the Court was due on October 18.

Unlike the US SEC that did not miss the Form C filing deadline, the Court is giving Ripple Labs a 14-day grace. If it fails to file the required document in the XRP lawsuit, its attorneys might not get the chance to make oral arguments in the appeals case.

Advertisement

Next Steps For Ripple Labs 

Ripple Labs has not breached any court’s due process known to the community yet, and unlikely to start now. When the US SEC filed the Form C statement last week, Ripple CLO Stuart Alderoty infiormed the community the firm will file its response this week.

The firm has its goals in the XRP lawsuit well defined. The company’s executives noted that the cross-appeal filed will help to put a final end to the SEC’s enforcement tactics. It is worth noting that the regulator has placed crypto assets in its list of exam priorities for 2025.

This case might help change the narrative in relation to enforcement to an extent, hence its importance.

 

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Experts Say Bitcoin CME Gap Brings Short Term Uncertainty Before Uptober Rally Begins

Bitcoin price has staged a strong bounce back over the weekend, reclaiming $111,000 levels. This…

September 29, 2025
  • 24/7 Cryptocurrency News

MrBeast Expands Holdings in ASTER Token as Revenue Outpaces Hyperliquid by 10x

Popular YouTuber MrBeast has continued to increase holdings in the Aster token as he makes…

September 29, 2025
  • 24/7 Cryptocurrency News

Why Is Canary Litecoin ETF Approval by US SEC This Week Crucial for Crypto Market?

After approving the Generic Listing Standards a few weeks ago, the U.S. Securities and Exchange…

September 29, 2025
  • 24/7 Cryptocurrency News

LBank Signs Sponsorship Deal with Argentine National Team, Launches $100M Bonus

Leading cryptocurrency exchange LBank has signed a historic sponsorship deal with the Argentine Football Association…

September 28, 2025
  • 24/7 Cryptocurrency News

ASTER Leads Perp DEX Volumes Despite $4.8M Wintermute Transfers

ASTER dominates decentralized perp trading with $42 billion in daily volume. Meanwhile, Wintermute moved $4.8…

September 28, 2025
  • 24/7 Cryptocurrency News

USDH Launch Boosts Hyperliquid Amid Competitive Market Pressure

Native Markets has staked and locked 200,000 HYPE tokens for three years, making USDH the…

September 28, 2025